Paychex, Inc. (PAYX) Shares Bought by Bokf Na

Bokf Na lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,533 shares of the business services provider’s stock after acquiring an additional 329 shares during the quarter. Bokf Na’s holdings in Paychex were worth $2,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PAYX. Geode Capital Management LLC grew its position in Paychex by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 5,212,402 shares of the business services provider’s stock valued at $339,236,000 after buying an additional 270,888 shares during the period. Fort L.P. lifted its holdings in Paychex by 82.0% during the fourth quarter. Fort L.P. now owns 24,013 shares of the business services provider’s stock valued at $1,564,000 after purchasing an additional 10,816 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Paychex by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 542,855 shares of the business services provider’s stock valued at $35,367,000 after purchasing an additional 14,182 shares in the last quarter. Stifel Financial Corp lifted its holdings in Paychex by 19.0% during the fourth quarter. Stifel Financial Corp now owns 308,233 shares of the business services provider’s stock valued at $20,085,000 after purchasing an additional 49,119 shares in the last quarter. Finally, Rench Wealth Management Inc. lifted its holdings in Paychex by 1.5% during the fourth quarter. Rench Wealth Management Inc. now owns 62,466 shares of the business services provider’s stock valued at $4,070,000 after purchasing an additional 931 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

In related news, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $76.00, for a total value of $3,800,000.00. Following the sale, the chief executive officer now owns 349,929 shares in the company, valued at $26,594,604. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer R. Vossler sold 6,000 shares of the business’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $69.37, for a total transaction of $416,220.00. Following the completion of the sale, the vice president now owns 27,701 shares in the company, valued at approximately $1,921,618.37. The disclosure for this sale can be found here. Insiders sold 138,244 shares of company stock worth $10,227,583 in the last three months. Insiders own 11.80% of the company’s stock.

Several equities analysts have weighed in on PAYX shares. Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $64.00 to $68.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “market perform” rating on shares of Paychex in a report on Thursday, December 20th. Finally, BidaskClub raised shares of Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.60.

PAYX stock opened at $78.99 on Friday. Paychex, Inc. has a one year low of $59.36 and a one year high of $79.00. The firm has a market capitalization of $28.11 billion, a PE ratio of 30.98, a P/E/G ratio of 3.11 and a beta of 1.04.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, December 19th. The business services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Paychex had a net margin of 27.99% and a return on equity of 41.61%. The firm had revenue of $858.90 million for the quarter, compared to the consensus estimate of $860.61 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Paychex, Inc. will post 2.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, January 31st. Paychex’s dividend payout ratio (DPR) is presently 87.84%.

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Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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